Betterment to acquire digital investing accounts from Goldman Sachs

Betterment announced that it has reached an agreement with Goldman Sachs to acquire Marcus Invest’s digital investing accounts. Marcus Invest, which offers digitally customized investment portfolios to consumers, will transfer these accounts to Betterment in the coming months. Subject to customary closing conditions, the digital investing accounts will be transitioned to Betterment on or about June 29. Customers will have the option to opt out of this transfer if they choose to do so. Betterment will only be acquiring Marcus Invest accounts and assets under management; it will not be acquiring any additional accounts, technology, employees, or operations as a part of the transaction. “As we increase our focus on our growing Marcus Deposits platform, we made the decision to transition away from our digital investment advisor offering and wanted to find a great home for those customers. Betterment was the obvious choice for those accounts as we share a deep commitment to customer satisfaction. We look forward to continuing to serve our Marcus Deposits customers with great products and a great experience,” said Marcos Rosenberg, global head of Goldman Sachs Marcus.